Reborn fashion designer

Chapter 902 A Date with Murphy

"Are you surprised? Are you surprised?"

At New York's Kennedy Airport, John Jr. and Mr. Ding appeared together at the entrance of the waiting hall.

"Didn't you say you couldn't come?" Xiang Yang smiled and shook hands with Ding Zhong before asking Little John.

In the previous conversation, he had extended an invitation.

But Little John flatly refused.

But now he appears together with Ding Zhong.
It's so boring.

"Later I thought about it and decided not to participate in such a big project. If you do something to me, I won't even have anywhere to cry." Little John hugged Xiangyang and patted his friend's back with a smile.

The actions of the two people are full of gay love.

"If you hadn't come, I wouldn't know." Xiangyang smiled.

It would be polite if you didn't help fill in the hole for little John.

After the two separated, Xiang Yang asked Ding Zhong for his opinion and said, "Let's go to the hotel first and find a quiet place to discuss the details."

After having dinner on the plane yesterday, the roar of the engine and the slight rocking of the plane undoubtedly became the best sleeping aid.

After reading the boring information for a while, he felt so sleepy that he went into the lounge at the back.

He slept directly over New York and now he is very energetic.

"That's great." Ding Zhong smiled and nodded to Xiang Yang. He was also planning to communicate his thoughts on acquiring the sports retailer to Xiang Yang after finishing the discussion about the acquisition of DMG Media.

Just listen to his opinion.

But when they arrived at the hotel and finished talking about DMG Media, when they heard the name Sports Authority, Xiangyang didn't know what to say for a moment.

This is a good idea.

But the difficulty is extremely high.

Xiang Yang also considered this North American sports retailer before agreeing on a collaboration with HYS, FILA and Decathlon.

So it’s not unfamiliar.

"Xiang, why are you worrying about this? We can go to Oak Capital." Little John saw his friend's worried face and thought, isn't it his turn to show off?

The key point is that this time it happened in front of Ding Zhong and Bi Shafer.

Ding Zhong's eyes lit up when he heard this.

Yes.

Oak Capital is best at handling mergers and acquisitions of these non-performing assets. It can not only provide financial guarantees, but also use its own expertise to provide specific strategies for future operations for reference.

Now is a good time for both sides to get to know each other.

"The vultures on Wall Street are not so easy to talk to." Xiang Yang glanced at the complacent little John.

His eyes were full of complex meanings.

He thought that although this was not a bad idea, Little John's recent
No, it's because I have been relying on various interpersonal relationships and a bit of luck to achieve good results, and now I feel a little proud.

With his IQ, he might be eaten alive by Oaktree Capital, yet he still wants to take advantage of them.

It is true that the ignorant are fearless.

"What's the matter, Mr. Xiang, do you have any concerns?" Ding Zhong cared more about Xiang Yang's opinion than Little John.

"I think that if we wait a little longer, we might get a better price." Xiang Yang really didn't know how to persuade Ding Zhong to give up.

The key is that he also thinks Sports Authority is a good choice in this matter.

But unlike the risk of acquiring the FILA brand, the dilemma faced by this retailer is likely to be what Anta will face next.

In North America, Sports Authority ranked fourth.

Whether compared with its old rival Dick's, or the second-place Academy Sports and third-place Bass ProShops, Sports Authority's sales volume is in stark contrast to the number of its stores.

With 470 stores, it is actually left behind in annual revenue by Bass ProShops, which has only 91 stores. This shows how bad the management team of this company is.

If you spend a lot of money to acquire this retailer, building a sales team will not be easy and cannot be solved in a short time.

Well.
HYS doesn’t have this ability, and it’s hard to say whether Anta has it.

"But Mr. Xiang, these stores are large in size, with spacious indoor spaces, and many of them are equipped with parking lots." Ding Zhong, who had already conducted a detailed investigation of the company, knew that what Xiang Yang said was true.

But the real temptation is also in front of us.

"I discussed with the CIB team that one of the biggest enemies of this retailer is debt. In addition."

Well, Ding Zhong also admitted that the senior management of this large chain retailer did have some mental problems.

Even though it was heavily in debt, it still bought the home stadium naming rights of the NFL team Denver Broncos for the next 600 years for a huge sum of US$10 million.

This really is
"It's because Americans like football." Little John interjected.

"No, the situation is not that simple." Xiang Yang shook his head. Although he was very satisfied with the efficiency and professionalism of the CIB team in assisting the two companies in acquiring the FILA brand last time, debt was only a superficial phenomenon for this retailer.

To put it in more financial terms, its biggest problem is over-reliance on leverage.

Say, $10 billion.

Does Anta have the money?
Buying it also requires leverage, just like the acquisition of DMG Media this time, using the power of finance to quickly achieve its own commercialization goals.

but.

Leverage also depends on how it is used.

Especially in the current environment where sports brands are more willing to build their own direct sales channels, Sports Authority, which sells all kinds of brands, will undoubtedly lose more market share in this process.

In particular, it also has to experience the impact of Amazon's online business.

No one is willing to invest in it anymore, and it is simply a pipe dream for it to reverse its decline simply by relying on its own hematopoietic ability.

After all, the retailer market itself is an oversaturated industry.

Only by providing customers with continuous fresh experiences and high-quality user experience can we maintain competitiveness.

"Mr. Ding, our two families can cooperate on this matter, but it takes time." Xiang Yang said softly.

Of course, taking over Sports Authority together would be of great value to HYS.

If done well, HYS could overwhelm all its competitors in the North American market.

It is a question whether lululemon will still exist in this market in the future.

But Xiangyang also wanted to say that beautiful dreams need financial support, and it is not shameful to have no money.

In 2010, HYS's overall revenue was already very impressive. After being launched at a critical juncture of consumer demand recovery, it captured the market's attention with its strong brand publicity.

But a lot of money was spent.

Especially in North America, the expenses are huge because of the more intense brand competition.

Don’t be fooled by the fact that the amount of money Xiangyang spends in the Chinese market is astonishing every time.

But after the annual report came out, I realized that cutting flesh with a knife really hurts.

But the effect is also horrifying.

This directly brought to a halt Lululemon's momentum of growing its North American performance by around 2007% in 2008, 2009 and 30.

This alone makes the two families somewhat incompatible.

1: 78.

HYS, which is better at online sales and attracting consumers through offline activities and creating various gimmicks, has only one store, but has directly suppressed lululemon, which has 1 stores in the United States.

It would be strange if the two families had a good relationship. "Aren't we planning to open more stores in North America this year?" Little John interrupted again.
"Yes, Mr. Xiang, don't you also attach great importance to the development of FILA in the United States?" Ding Zhong quickly took over the topic.

"."

Xiangyang looked at the two people who were in perfect harmony and felt like he was the one who had been tricked.

"Of course, Mr. Xiang, I don't mean to initiate an acquisition right now." Ding Zhong explained in a low voice, "I think that since your company also attaches great importance to the North American market and will make a large investment this year, there is a lot of room for our cooperation. And to be honest, Anta also needs your support in this market."

Xiang Yang was silent.

That's really nice to say.

"We expect that we will have to invest more funds and resources in the future to develop the market here. Why don't we fully communicate now and strive to reach a consensus? What do you think?" Ding Zhong asked hopefully.

Xiangyang smiled softly. Although he was very angry about leaving, he didn't want to jump into the pit and he really had no suitable reason to refuse.

They are telling the truth.

"How about this, Mr. Ding, let's discuss this matter in detail after we finish DMG Media." Facing Ding Zhong, Xiang Yang said:

"HYS does have plans to continue opening directly-operated stores in North America, but the specific bidding process has not yet been finalized. There is still time for everything."

"What about Oak Capital?" Ding Zhong asked tentatively.

"We can try to get their opinions first. We don't need to spend any money anyway, and it would be nice to see the market reaction at the same time." Xiang Yang had let Oaktree Capital work for free before when it acquired Liverpool.

After he finished speaking, Ding Zhong smiled knowingly and nodded continuously.

Regardless of whether the acquisition is real or not, sending some signals to the market first will be effective.

It would also be helpful to look at the reaction of the private investment firm that controls Sports Authority and the impact such news could have on Anta's stock in the secondary market.

After finalizing the strategy, Xiang Yang and his team had a dinner with the representative team of Oaktree Capital in the evening.

In the country, there are paparazzi.

In the United States, there are also journalists who make a living by secretly photographing the lives of wealthy people.

The photos of Xiang Yang, Ding Zhong, John Jr., Bea Schaffer and other executives of Oaktree Capital being photographed together in a high-end restaurant in New York did not cause any waves in China and even attracted little attention.

But in the eyes of some people, it has a profound meaning.

"I said, you misjudged it." Dan Mitz, one of the DMG iron triangles who is responsible for the US business, pointed at the photo and said with a laugh: "This should be the person in charge of the sports brand that Xiang often appears with."

"Ding Zhong, from Anta Group."

Wu Bing, who was an athlete, recognized him at first sight.

The smile on her face relaxed a little, but she couldn't help but look at Xiao Wuge reproachfully.

It's all his fault. He's so nervous.

"Did I really make a wrong judgment?" Seeing his partners say so, Xiao Wuge smiled awkwardly, "Then this is also a good thing for us."

good thing?

and many more.

They will all meet with Oaktree executives, which is a good thing?!
Xiao Wuge's expression suddenly became serious when he realized something. Others had already made their cards clear, but the people on his side were still laughing.

This really is
"Xiao, this is impossible. You know my relationship with them." Dan Mitz said, looking at his wife.

In addition to being a partner of DMG, Wu Bing and she are also husband and wife.

It is precisely for this reason that in the previous discussions about the acquisition rumors, Wu Bing trusted Dan Mitz's judgment more.

First of all, he is specifically responsible for the business in the United States.

Secondly, because of his status, it would be easier for him to get the support from Oaktree Capital.

After all, whether it is DMG Media or DMG Entertainment, which they are preparing to build with all their strength, the market is more focused on China.

But the resources for rapidly increasing influence are in Hollywood.

Dan Mitz is also a people person.

Not only did he find resources for "Twilight" and "Resident Evil" before, he also had a nice unexpected gain at this Hollywood Golden Globe Awards party.

Bruce Willis, the star of the "Die Hard" series, is also interested in starring in "Looper".

"They can't abandon us. It won't do them any good." Although Dan Mitz's tone was still tough, he was a little panicked in his heart.

Especially after Xiao Wuge analyzed the whole story again, the confidence on his face disappeared completely.

Don't be fooled by the fact that he is an expert on China and even married a Chinese wife.

But he knows the word "Wall Street" better.

Interests are the truth.

Everything else is bullshit.

"Xiang, I am very satisfied with your proposal, but I also have a small request."

Bruce Cash, a representative of Oaktree Capital, did not mind discussing the lawsuit between DMG Media and VisionChina Media at the dinner table.

He was even very happy that the young man in front of him could get straight to the point.

How to deal with non-performing assets.

The simplest and most effective way is to find a buyer at the most suitable price in the fastest time.

Although Oaktree Capital has plenty of connections in New York, it can drag China Media Group into a complicated litigation process in court.

But being able to handle this matter more quickly and conveniently can also avoid the losses caused to Oak Capital by this incident.

Hiring a lawyer is expensive.

Especially commercial litigation.

Several Oaktree Capital executives who attended the welcoming banquet today all started their careers by representing others in lawsuits.

Larry Clay, who runs distressed debt, would love to raise his hand.

He is not a man who talks big.

"Mr. Bruce, please speak." Xiangyang, who came with sincerity, made a gesture.

He was all ears.

But if he is not satisfied, then the meal invited by Oaktree Capital would probably be wasted.

Well.
It doesn’t seem to be wasted.

I almost forgot, Sports Authority still needs their help to do free research.

If the transaction fails, benevolence and righteousness exist.

Even if the DMG Media deal falls through, Xiang Yang will entrust the matter to the Wall Street vultures as planned.

As for if the acquisition was really launched in the end, this investment bank was not chosen.

Then Xiangyang could only say helplessly that perhaps the two sides were really incompatible.

"Mr. Xiang, we just want to send a representative who can serve as a director after your company successfully acquires DMG Media," Bruce Cash said while observing Xiang Yang's reaction.

Seeing that he was calm, he paused and then smiled and continued:
"In return, we at Oaktree Capital are confident that we can help you acquire 8000% of the shares of this company from VisionChina Media for $80 million. What do you think, Mr. Xiang?"

"80%"

Xiangyang frowned.

You'll keep the remaining 20% ​​to play Murphy with me?

(End of this chapter)